Bitcoin and S&P 500 explode over 7% after Trump's 90-day tariff pause
- Bitcoin and S&P 500 rise after Trump's decision
- Cryptos and stocks surge on tariff break
- Political decisions influence global markets
The U.S. stock market rallied sharply on Wednesday after a surprise announcement from President Trump. In an unexpected turn of events, Trump declared a 90-day suspension of tariffs imposed on most countries except China, which saw a significant increase in its tariffs.
The main market indices responded positively to this news. The S&P 500 was quoted at 5,313.14 up more than 7%, reflecting renewed optimism among investors. Meanwhile, the Nasdaq Composite, which includes a large number of technology companies, saw an even larger increase, exceeding 8%. The Dow Jones Industrial Average was also not far behind, registering an increase of more than 6%, which corresponds to an increase of more than 2.000 points.
On his social media platform Truth Social, Trump stated, “I have authorized a 90-day PAUSE and a substantially reduced Reciprocal Tariff during this period, of 10%, also effective immediately.” Additionally, he announced a drastic increase in tariffs on Chinese goods, reaching 125%.
In the cryptocurrency universe, the reaction was also remarkably positive. Bitcoin, for example, saw its value jump from $78 to $81 in response to the announcement.. BTC is currently trading at $81.800, marking a 6% increase in the last 24 hours. Ethereum, XRP, Solana, and Cardano also recorded significant gains, with increases of 8%, 10%, 11%, and 6%, respectively.
This movement in the stock and cryptocurrency markets underscores their sensitivity to global political and economic decisions, reinforcing how geopolitical news can directly affect the value of financial assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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